Godlike Productions - Conspiracy Forum
Users Online Now: 3,211 (Who's On?)Visitors Today: 1,485,418
Pageviews Today: 2,156,543Threads Today: 463Posts Today: 10,865
04:51 PM

Rate this Thread

Absolute BS Crap Reasonable Nice Amazing

UH-OH: 'Last Stand' for Greek Banks as Greece Taps Emergency Fund

Earthling on Uranus
Offer Upgrade

User ID: 1495020
United States
08/26/2011 05:37 AM
Report Abusive Post
Report Copyright Violation
UH-OH: 'Last Stand' for Greek Banks as Greece Taps Emergency Fund
Greece has been forced to activate an obscure emergency fund for its banks because they are running short of collateral that is acceptable to the European Central Bank (ECB).

In a move described as the "last stand for Greek banks", the embattled country's central bank activated Emergency Liquidity Assistance (ELA) for the first time on Wednesday night.

"The activation of the so-called ELA looks to be the last stand for Greek banks and suggests they are running alarmingly short of quality collateral usually used to obtain funding."

[link to www.telegraph.co.uk]

Last Edited by Buster Brown on 08/26/2011 05:42 AM
"Conscience is the most sacred of all property."


This Flag Represents The Principle, "Fight For What You Believe In."

This Is The Rebel Flag, "You're Either Free Or You're Not."